The rapid adoption of cryptocurrencies like Bitcoin (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned. Wen Xinxiang, director of the payment and settlement department at the People’s Bank of China (PBoC), has expressed concerns over the growing popularity of cryptocurrencies and fiat-pegged stablecoins. Pointing
Bitcoin News
What is Cloud Mining? It would be best if you first grasped Bitcoin’s workings to comprehend cloud mining. Nodes in the Bitcoin network validate transactions. In the cryptocurrency world, these validating nodes are referred to as miners. They were awarded this honor for the efforts they do to keep the blockchain legitimate. This excessive use
Bitcoin (BTC) hit four-day highs of $45,000 on Sept. 24 as the market digested news that Twitter had enabled BTC tipping. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Twitter stock surges 3.8% on Bitcoin news Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $45,180 on Bitstamp. The largest cryptocurrency had struggled to overcome
The current market volatility hasn’t been kind to Dogecoin, with the popular meme coin falling by a lot since its hype-fueled rallies a few months back. In fact, at the time of writing, the value of DOGE had dropped by almost 30% since mid-August. Nevertheless, many in the DOGE community, including #dogefather Elon Musk, are
This week’s combination of bearish factors was enough to bring Bitcoin (BTC) price down to its lowest levels in 46 days, and this nearly obliterated 86% of the $2 billion September call (buy) options that expire on Sept.24. There’s still room for some surprises, especially considering the deadline is 8:00 UTC on Sept. 24. However,
Bullish optimism is on the rise across the cryptocurrency market on Sept. 23 as prices continue to recover from this week’s volatility which was the result of regulatory pressure on the crypto sector, the FOMC meeting on the Fed’s interest rate hikes and monetary policy, along with fears that the Evergrande situation would ripple out
Bitcoin.org, one of the first websites about Bitcoin (BTC), has been hacked by online scammers and down as of the time of writing. Cobra, Bitcoin.org’s anonymous curator, announced on Sept. 23 that Bitcoin.org was compromised, with hackers managing to put up a scam notice on the site. “Looks like Bitcoin.org got hacked and the entire site
Even with the massive inflow of institutional capital into the cryptocurrency market, many traditional financial institutions have continued to remain wary of this asset class. Joining their ranks was Europe’s largest bank, HSBC, as its CEO reiterated his skeptical stance towards crypto, even as he expressed his enthusiasm for CBDCs. HSBC Group CEO, Noel Quinn
Bitcoin (BTC) may be hitting new all-time highs, but it may just be another bubble, new research suggests. Unveiling a theory that could well rile Bitcoin bulls, analytics guru Material Scientist revealed what seems to be a strong correlation between Bitcoin price cycles and Chinese debt cycles. Casting doubt on the power of Bitcoin halvings With
Over the past 3 days, Bitcoin’s price has been making lower lows – first $46.8k, then $42.5k and finally $39.6k. As the king-coin’s price momentarily dunked below $40k, during the late hours of Tuesday, fear spread like wildfire. Consequentially, the F&G index fell to its 1-month lows. The aforementioned index considers factors including market momentum,
The sharp correction that threatened to pull Bitcoin and altcoin prices back toward their sing lows appears to have dissipated now that Evergrande informed investors that it intends to make an on-time payment on its debt. With global markets feeling reassured, major equities, Bitcoin and altcoins prices all saw a rebound at the market open.
Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) approves the country’s first Bitcoin exchange-traded fund (ETF). In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States
Each time a halving occurs, Bitcoin sees a dramatic surge to a new all-time high, beyond many expectations. Bitcoin’s value sees regular pumps, followed by regular dumps until it eventually stabilizes with a new bottom. For some months, it trades relatively sideways until a second surge begins. Based on this narrative, can Bitcoin record a
Bitcoin (BTC) bounced from a second $40,000 retest on Sept. 22 as China calmed global market fears over Evergrande. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView China keeps up Evergrande cash injections Data from Cointelegraph Markets Pro and TradingView saw BTC/USD trading above $42,000 Wednesday, with bulls still defending the psychologically significant $40,000 mark. The
Major Bitcoin (BTC) mining company Genesis Digital Assets has secured $431 million in funding to expand its industrial-scale mining operations in the United States and Nordics. The new funding round was led by Paradigm, one of the biggest cryptocurrency investment companies backing major industry players like Coinbase and FTX. Paradigm co-founder Matt Huang has also
The crypto market, along side the US equity market, had a pretty rough start to the week. The S&P 500 fell as low as 4305 points on Monday while Bitcoin managed to slump below $42.5k. The king coin managed to carry forward the same sluggish momentum on Tuesday as well and the broader crypto-market was trading
